Industry - October 2024

Industrial production in October 2024 was in real terms by 0.7% lower, m-o-m. In the year-on-year comparison, it decreased by 2.1%. “The October result of industry was partially influenced by a high comparison basis in some important economic activities of manufacturing, especially in manufacture of other transport equipment and in manufacture of motor vehicles, trailers and semi-trailers,” Radek Matějka, Director of the Agricultural and Forestry, Industrial, Construction, and Energy Statistics Department of the Czech Statistical Office (CZSO), says.

A high comparison basis was also reflected in a decrease in the economic activity of repair and installation of machinery and equipment. A decrease continued in manufacture of machinery and equipment and in manufacture of basic metals. The highest positive contributions to the development of industrial production were recorded by manufacture of fabricated metal products, manufacture of food products, and also mining and quarrying, where, in a year-on-year comparison, mainly a very low comparison basis was reflected in coal mining.

The value of new orders at current prices in surveyed industrial CZ-NACE activities increased by 2.0%, y-o-y, in October 2024. Non-domestic new orders increased by 3.1%, y-o-y; domestic new orders increased by 0.2%. The value of new orders decreased, month-on-month, by 0.5%. “An increase in the value of new industrial orders was the most contributed to by manufacture of computer, electronic and optical products. The number of new long-term orders also increased in enterprises in manufacture of other transport equipment,” Veronika Doležalová, Head of the Industrial Statistics Unit of the CZSO, says.

The average registered number of employees in industry decreased by 2.0%, y-o-y, in October 2024.

According to data released by Eurostat, industrial production in the EU27 decreased by 2.4%, year-on-year, in September 2024. The biggest year-on-year decrease was recorded by Ireland (by 7.3%). Performance of German industry decreased by 4.5%. The biggest year-on-year increase was recorded by Denmark (by 7.8%), Czech industry increased by 1.6%. As for economic activities of industry in the EU27, the biggest decrease was in manufacture of leather and related products (by 11.0%) and the highest increase was recorded by manufacture of basic pharmaceutical products and pharmaceutical preparations (by 11.4%). According to a preliminary release calendar, Eurostat will release data for October 2024 on 13 December 2024.